Housing market is too far gone.

DrewDown

Well-Known Member
Jan 4, 2006
22,859
Tucson
FYI after getting shit-pumped for 3 straight days after the inflation numbers came out, bonds rallied hard today and rates improved. Yes, even though the fed raised rates 75 basis points, mortgage rates improved bigly. 122 basis points on the day.

View attachment 231546

So the ghost of Alan Gresnspan saw his shadow and I have to wait 6 more weeks for a collapse?
 

Mejnoon

Well-Known Member
May 6, 2000
34,300
Omaha, NE
FYI after getting shit-pumped for 3 straight days after the inflation numbers came out, bonds rallied hard today and rates improved. Yes, even though the fed raised rates 75 basis points, mortgage rates improved bigly. 122 basis points on the day.

View attachment 231546
Based on fed assurance that this 75 basis point bump will not be the norm going forward
 

Weapon X

Well-Known Member
Sep 5, 2001
8,861

Mejnoon

Well-Known Member
May 6, 2000
34,300
Omaha, NE
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Menger

OT Supporter
Nov 23, 2011
23,483
FYI after getting shit-pumped for 3 straight days after the inflation numbers came out, bonds rallied hard today and rates improved. Yes, even though the fed raised rates 75 basis points, mortgage rates improved bigly. 122 basis points on the day.
:eek3d: maybe I should make a big offer on this place tomorrow and try to get something locked in before the next wave of pessimism :rofl:
 

Xicculus

OT Supporter
Apr 1, 2002
35,524
OTs Favorite Russian
3,400 sqft house in my neighborhood listed 10 days ago for $1.35 mill….they just lowered it $75k to $1.275. I’m sure it won’t sell still. Seems they are a few months late and missed the boat. Another house was listed for 40 days before it sold. Not nearly as many buyers in our area with the higher interest rates now.
What area?
 

Gaunt

blood for the blood god
OT Supporter
Apr 16, 2005
9,444
KC
Their preliminary offer means shit. They come in look at it mention all these repairs needed, lower the offer, people accept it, they don’t do any of them or do a few things super cheap (carpet or stuff) and resale it for full price
My sister n law bought a place from open door. The previous owner came over to drop something off and asked what they thought about the patio and fan. Sister said "what fan?"

Opendoor had removed the fan but left the open junction box there.
 
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monolith

Hey, Herbie! How's life? Taking forever.
OT Supporter
May 9, 2004
37,866
Southern California
Yeah but now you have a whole new never ending list of shit to fix and pay for so that’s fun
Yea, better than giving some asshole a huge chunk of money every year and having absolutely zero to show for it, living on top of people I can't stand with no garage to work in or yard to play with my kids in. That's an easy choice.
 

Xicculus

OT Supporter
Apr 1, 2002
35,524
OTs Favorite Russian
Bank owns it. You get possession in 360 payments. Even then you don't really own it cause if you don't pay your taxes the county will take it from you. Enjoy.
Can the bank buy and sell it? Host parties in it? Change the paint scheme and the landscaping? Make sourdough bread in the oven? The bank doesn’t own it. The bank simply has a lien on it to secure repayment for the debt you took from them.
 
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